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Why Choose Franklin Canadian Ultra Short Term Bond Fund?

Defensive portfolio

The portfolio is positioned with an ultra-low duration exposure to minimize interest rate risk and correlation to equities.

Income and Liquidity

Designed to provide income and prioritizes preservation of capital while providing similar liquidity to cash products.

Diversified and actively managed

A diversified portfolio, actively managed by the Franklin Fixed Income Team, with decades managing fixed income investments for individual, institutional and high net-worth clients.

Cash Plus

Allows for flexible sources of income to benefit from different market and monetary policy environments.

Low Fee

An actively managed solution at a low management fee.

Ultra Short Duration is Less Volatile

Ultra short duration strategies have steadier returns compared to longer maturity bonds.

 

Source: Morningstar Research Inc., as of March 31, 2025.

A Well Diversified, High Quality Portfolio

As of March 31, 2025

Portfolio Allocation1 (% Market Value) 

Sectors

Weight (%)

 Maturity

% Total
Corporate 66.20 Under 1 Year 61.82
Cash & Cash Equivalents 28.62 1 to 3 Years 38.18
Provincial  2.69

 

  
Securitization 1.79    
Municipal 0.56    
Federal

0.14

 

  

 

Portfolio Summary

Overview

Fund

Yield to Maturity (%)

3.51

Average Duration (Years)

0.75

Average Credit Quality

A

Inception Date

September 12, 2022

Key Materials

Flyer

Download

Who are the people behind your investments?

Learn about their backgrounds, how they approach investing and what moves them in their personal and professional lives in this series of short video interviews.

Darcy Briggs, CFA, CPA, CGA, FRM
SVP, Portfolio Manager, Franklin Fixed Income Canada

Insights

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DECEMBER 12, 2022

A Fixed Income Solution in a Rising Rate Environment

Investors entered uncharted territory in 2022. Read the Canadian market in review by Alex Lee, ETF Strategist with Franklin Templeton in Toronto, and where he sees opportunity in 2023.

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MARCH 24, 2023

Market Worries and Turbulence in Fixed Income

January brought a great sense of optimism with solid greens across the board. February, and now even March, are showing us that volatility and uncertainty still linger and the recovery period we are all hoping for keeps getting pushed back. So what are advisors doing?

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MARCH 12, 2024

Let's Talk About Putting Cash to Work!

While volatility may have kept cash on the sidelines the last few years, we think a new market cycle could change the conversation. Read the latest blog from our Canadian Head of ETF Strategy Alex Lee for some of our best ideas on putting cash to work.

Archived

Important Legal Information

Footnotes

1.Market value figures reflect the trading value of the investments. Portfolio breakdown percentages may not total 100% and may be negative due to rounding, use of any derivatives, unsettled trades or other factors.
 

Effective May 6, 2024, Franklin Bissett Ultra Short Bond Fund has been renamed to Franklin Canadian Ultra Short Term Bond Fund. The investment objective and strategies of the fund remain the same.

The Average Credit Quality (ACQ) rating may change over time. The portfolio itself has not been rated by an independent rating agency. The letter rating, which may be based on bond ratings from different agencies (or internal ratings for unrated bonds, cash and equivalents), is provided to indicate the average credit rating of the portfolio's underlying investments and generally ranges from AAA (highest) to D (lowest). For unrated bonds, cash and equivalents, ratings may be assigned based on the ratings of the issuer, the ratings of the underlying holdings of a pooled investment vehicle, or other relevant factors. The ACQ is determined by assigning a sequential integer to all credit ratings AAA to D, taking a simple, asset-weighted average of investments by market value and rounding to the nearest rating. The risk of default increases as a bond's rating decreases, so the ACQ provided is not a statistical measurement of the portfolio’s default risk because a simple, weighted average does not measure the increasing level of risk from lower-rated bonds. The ACQ may be lower if cash and equivalents are excluded from the calculation. The ACQ is provided for informational purposes only. Derivative positions are not reflected in the ACQ.

Yield to Maturity ('YTM') also known as the 'Gross Redemption Yield' or 'Redemption Yield'. The rate of return anticipated on a bond if it is held until the maturity date. YTM is considered a long-term bond yield expressed as an annual rate. The calculation of YTM takes into account the current market price, par value, coupon interest rate and time to maturity. It is also assumed that all coupons are reinvested at the same rate.

Commissions, trailing commissions, management fees, brokerage fees and expenses may be associated with investments in mutual funds and ETFs. Please read the prospectus and fund fact/ETF facts document before investing. ETFs trade like stocks, fluctuate in market value and may trade at prices above or below the ETF’s net asset value. Brokerage commissions and ETF expenses will reduce returns. Performance of an ETF may vary significantly from the performance of an index, as a result of transaction costs, expenses, and other factors. Indicated rates of return are historical annual compoundedtotal returns for the period indicated, including changes in unit value and reinvestment distributions, and do not take into accountany charges or income taxes payable by any security holder that would have reduced returns. Mutual funds and ETFs are not guaranteed. Their values change frequently. Past performance may not be repeated.

ETF units may be bought or sold throughout the day at their market price on the exchange on which they are listed. However, there can be no guarantee that an active trading market for ETF units will develop or be maintained, or that their listing will continue or remain unchanged. While the units of ETFs are tradable on secondary markets, they may not readily trade in all market conditions and may trade at significant discounts in periods of market stress.